The SQD Token Expands to Base
TL;DR: Starting today SQD’s native token SQD is trading on Base/ Aerodrome, further expanding its access and increasing liquidity. This is part of the Surge program, which establishes SQD as the database network for the agentic economy. Shortly, the launch of Tokenomics 2.0 will further expand the token's utility on Base and beyond.
When we first launched the SQD token, our goal was to make it easily accessible through DeFi and provide various on-ramp options through centralized exchanges. Since SQD’s smart contracts were sitting on Arbitrum, this became the first ecosystem we launched on.
Arbitrum was one of the most vibrant, active DeFi ecosystems back then, and we’re grateful for the support from our partners at PancakeSwap, who were the first to make SQD permissionlessly available.
As we grow in mindshare and demand, it’s time to take our token multichain. And we couldn’t imagine a better fit for that first expansion than Base. We share much more with Base than just our love for the color blue.
Bootstrapped by one of the most reputable exchanges, Base combines the aspirations of a fully decentralized financial ecosystem with its on-ramp capabilities as a regulated entity. More recently, Base has also become home of the AI agent experimentation, with thousands of agents going live through Virtuals Protocol.
Since SQD is shaping up to become the prime data provider for agents, it’s only logical that we’re bringing SQD tokens to Base as well. It’s one of the most exciting L-2 ecosystems, heavily pushing towards scaling with its roadmap to reach 1Ggas/s and bringing the world onchain.
The expansion won’t just more closely align us with based builders it also enables SQD to tap into a new audience. And the token is just the start.
We have big plans for SQD on Base. Eventually, we will facilitate fully permissionless, self-sovereign data access for AI agents through our infrastructure.
More details on that will be shared as part of Tokenomics 2.0. With the upgrade to our tokenomics, we’ll fundamentally enhance the utility of the tokens, ensuring that increased demand for the data and adoption are more directly captured in protocol revenue. Ultimately, the token should stir the flywheel for growing network effects for SQD users, node runners, and community participants.
In the meantime, the expansion provides deeper liquidity and additional avenues for trading of SQD and use in DeFi.
“I’ve always been very bullish on Base. They’ve shown that they are serious about supporting builders, and as a primarily dev-focused platform, we share the same spirit. As we bridge a part of the SQD supply to Base, we expect more DeFi opportunities to arise. This is just another step in our larger vision to become the emergent Database Network for the agentic economy.” - said Dmitry Zhelezov, CTO of SQD.
The first DEX on Base SQD will trade on is Aerodrome, and the initial pool will be USDC/SQD.
Getting from Arbitrum to Base
If you want to be among the first to swap SQD in the pool, IceCreamSwap offers the first bridge to get you from Arbitrum to Base quickly.*
For a native bridging experience, use the arbitrum bridge, and then bridge from Ethereum mainnet to Base using superbridge.app.
This expansion is part of the larger plan to solidify SQD’s position as the emergent database network, the only data platform capable of supporting the billion-agent economy in scale.
Stay tuned for more.
And if you have questions, reach out to us in our telegram channel.
It’s important to clarify that this move is not a migration of the entire token supply, but an expansion of the chains the token is currently traded on. Please stay wary of any fake SQD tokens.
FAQ
Where do I find the SQD pool on Base?
What happens with the current SQD on Arbitrum?
Nothing.
How was SQD on Base created?
To create the token on Base, we used the standard Base bridge. Since SQD was initially minted on Ethereum before being bridged, the parent L1 contract can be found here.
What is the official contract address?
https://basescan.org/address/0xd4554bea546efa83c1e6b389ecac40ea999b3e78
How can I move my SQD from Arbitrum to Base?
If you are currently delegating your SQD through our network app, we recommend you keep SQD on Arbitrum to continue receiving rewards.
The IceCreamSwap bridge is the fastest way to move your SQD tokens from Arbitrum to Base.
*Note that this is a third-party provider and SQD is not in charge of any risks associated with using it.
The most native and secure way to go from SQD on Arbitrum to Base is via Ethereum mainnet, but it takes up to 7 days due to block finalization on Arbitrum. It is always 1:1 and suitable for bridging large amounts of SQD.
- Use https://bridge.arbitrum.io/ to bridge from SQD from Arbitrum to Ethereum
- Bridge your SQD on Ethereum to Base with https://superbridge.app/
Alternatively, you can bridge ETH (or USDC) on Arbitrum to ETH on Base and then swap. In that case, you can pick from a wide variety of bridges, including across.to, rhino.fi, jumper.exchange, hop.exchange, and stargate.finance (these are mere suggestions, research at your own convenience)
You’ll need to have a sufficient ETH balance to pay for gas.
What can I do with my SQD on Base?
For the time being, provide liquidity or trade. Soon, we’ll unveil further utility, such as DeFi opportunities or the use of SQD for its intended purpose of streaming real-time data.
And there might be other benefits to being an early SQD on Base adopter.
What pools will be available?
SQD/USDC for a start.
Will there be further chain expansions?
We can’t confirm nor deny.
Can I delegate SQD on Base?
Currently no. We’re working on expanding the utility of the SQD token with future releases of our tokenomics. Stay tuned.